Video: 8 Steps to Execute Nearbound ABM
In the evolving landscape of B2B marketing, Nearbound Account-Based Marketing (ABM) is emerging as a pivotal strategy. This approach leverages partnerships to enhance demand generation, brand awareness, and customer retention. Let's delve into what Nearbound ABM is, why it's important, and how you can implement it effectively.
You can watch this video interview between Reveal and Inverta online to hear the full discussion or read on for the highlights!
What is Nearbound ABM?
Nearbound ABM involves utilizing partner data and channels that are often underutilized by marketers. Partnerships serve as a CMO's hidden weapon, providing a rich data set that can significantly enhance marketing efforts. By integrating partner data into your marketing strategy, you can better target accounts, drive demand, and foster growth.
Standard ABM vs. Nearbound ABM
Traditional ABM focuses on targeting specific accounts from your total addressable market (TAM). In contrast, Nearbound ABM adds a layer of partner data, making your marketing efforts more precise and effective. This approach involves collaborating with partners to leverage their data and relationships, and as a result, enhancing your targeting and campaign outcomes.
Key Differences
- Data Set - Nearbound ABM incorporates partner data, providing a more comprehensive view of potential targets.
- Collaboration - Nearbound involves deeper collaboration with partners, aligning your goals and campaigns.
- Tools - Modern tools, like Reveal, facilitate transparent data sharing between partners, making it easier to identify and target accounts effectively.
Steps to Implement Nearbound ABM
I promised you eight steps for implementing Nearbound ABM, so here they are:
- Set Up Your Goals
Determine the revenue you expect from and through your partners. Set clear metrics and establish a separate funnel for the partner-generated pipeline. This clarity ensures that everyone is aligned and working towards the same objectives. - Build Your Nearbound ABM List
Incorporate partner data when building your target account lists. Identify accounts that have a higher likelihood of success based on your partners' data. This step ensures that your marketing efforts are focused on the most promising accounts. - Identify the Right Partners
Align your partners to your goals. Choose partners who can help you achieve your objectives, whether it is brand awareness, demand generation, or entering a new market segment. Use tools like Reveal for account mapping to ensure strategic alignment. - Ensure Alignment
Align your internal teams and your partners. This involves marketing, sales, and customer success teams working together seamlessly. Regular communication and shared goals are crucial for the success of Nearbound ABM. - Allocate Resources
Ensure you have the necessary resources, including budget and bandwidth, to execute your Nearbound ABM strategy. Partner marketing should be integrated into your overall marketing plan to avoid conflicts and ensure smooth execution. - Plan Your Nearbound ABM Campaigns
Define the goals for each campaign and enable your sales team to understand and take advantage of these campaigns. Make sure your partners' sales teams are equally informed and aligned. - Track, Adjust, and Iterate
Monitor the performance of your campaigns and gather feedback from sales teams. Make necessary adjustments based on their insights to improve the effectiveness of your campaigns. - Celebrate Successes
Highlight your wins and share them within your organization and with your partners. This not only builds trust but also encourages continued collaboration and improvement.
Why Nearbound ABM Now?
Buyers are hungry to learn from people who’ve already walked the path to success. They seek out people who have been where they want to go or who have helped them before. This is where Nearbound comes in. It’s not just about telling buyers about your product anymore, you need to leverage your partner network to provide validation of your solution and take the risk out of a purchase decision.
Nearbound ABM is a powerful strategy that can transform your B2B marketing efforts. By leveraging partner data and collaborating closely with partners, you can achieve greater campaign precision and effectiveness. Start by setting clear goals, identifying the right partners, and ensuring alignment across your teams. With careful planning and execution, Nearbound ABM can drive significant growth and success for your organization.
For more insights and resources on Nearbound ABM, let's talk